Activist Involvement in Wix.com (WIX) Can Unlock 'Meaningful Value'

Pre-Open Movers: Wix Gains on Activist Stake, Take-Two Falls on GTA6 Hack

Pre-Open Stock Movers:

Virios Therapeutics, Inc. (Nasdaq: VIRI) 63% LOWER; announced topline results from its FORTRESS (Fibromyalgia Outcome Research Trial Evaluating Synergistic Suppression of Herpes Simplex Virus-1 (HSV-1)) study of oral IMC-1 for the treatment of FM. Overall, the FORTRESS study did not achieve statistical significance on the prespecified primary efficacy endpoint of change from baseline to Week 14 in the weekly average of daily self-reported average pain severity scores comparing IMC-1 to placebo (p=0.302). However, analysis of the data suggests a bifurcation of... More

Starboard Value Confirms 9% Stake in Wix.com (WIX) (earlier)

Activist hedge fund Starboard Value confirmed a 9% stake in Wix.com (NASDAQ: WIX).

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The Reporting Persons purchased the Shares based on the Reporting Persons belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer... More

UPDATE: Starboard Built Stake in Wix.com (WIX) - Reuters

(Updated - September 16, 2022 4:05 PM EDT)

Activist hedge fund Starboard has amassed an approximately 9% stake in Wix.com (NASDAQ: WIX) and has spoken to the company about how it can improve its operations, according to Reuters, citing people familiar with the... More